The government has said that it has come up with an $8 Million dollar loan guarantee for tertiary student loans. This, the government said will enable students who cannot afford tertiary education to get assistance from financial institutions without the need for any collateral.
Said Higher and Tertiary Education, Science and Technology Development Minister Professor Amon Murwira:
The reason we have introduced this risk fund is that we want to make sure every student — either privileged or underprivileged — will have access to the loan facility.
In order for education 5.0 to succeed, we need to sort out programme infrastructure, promotions infrastructure, physical and financial infrastructure.
On the financial infrastructure, the loan scheme is one of the ways of making sure that students have access to loans.
The government said that 60 million had been pledged by financial institutions but they required a guarantee from the government in order to implement the scheme.
Mor: Sunday Mail